Posts tagged ‘ARMZ’

Dornod Uranium, Khan Resources, ARMZ, Russia, & Mongolia

By , 5 April, 2010, 1 Comment

Editor’s note: I found this article online today.  It gives an overview of events involving the Dornod Uranium mines.  The players include Khan Resources, ARMZ, Russian Government, and Mongolian Government…

Despite the potentially huge profits, it can be difficult to do business in a former communist country — particularly one that is in Asia. Western companies have learned this the hard way.

One current example is in Mongolia, involving a Canadian company, Khan Resources, and a rapid chain of events that put the company on the verge of losing vast amounts of money and essentially being kicked out of Mongolia. In the end, however, Khan Resources would have the last say.

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Khan Rebuts All Charges Based on “Inaccurate Information”

By , 22 March, 2010, No Comment

In an open letter to MP Z. Enkhbold, Khan Resources has clarified its point of view about certain conclusions and recommendations recently made by the working group led by him after its visit to Dornod uranium district last summer.

The company notes that the license it holds was not included in the list of licenses whose legality was sought to be investigated. Reiterating that the company has been fully cooperating with Government officials, Khan says it would be pleased to provide all relevant documents to the working group if asked to do so. Expressing confidence that Khan has fulfilled all its obligations towards Central Asia Uranium Corporation (CAUC), the company says it is difficult to understand why only it should be investigated when there are two other partners in the joint venture. “It is most unfortunate that inaccurate information has been delivered…through recent official and unofficial sources that suggests that only Khan may have been in breach of the law,” the letter says.

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